I've done a little more testing. I can play free flight for many minutes, but within a few seconds of playing the single player mission it always segfaults or hangs. In the case of a hang it still seems to be hanging in the middle of writing out a 'drawquad' log message oddly, although that's probably just be a buffering issue.
The crash may be related to the bullet or crash graphics. I can generally keep the game running for longer if I don't fire or crash, although once the enemy turns up and starts firing it will always crash, if it doesn't hang first.
I've also been unable to try out local multiplayer. I've had a variety of crashes and hangs, and ended up with a run where the music started, but the menu didn't even appear. After a 'pkill SkySupreme' something seemed to be eating up 90+% of my CPU, so I rebooted and that's where I've left it so far.
Basically, it's extremely unreliable on my system, apart from free flight. I'm running the latest SZ, opkg updated. I can't tell you what SGX driver I'm running, as since the last opkg update, Notaz's updater fails.
I've just tried out the game under the copy of SZ 1.52 on my NAND, and there it runs fine. I guess local multiplayer isn't fully implemented yet, as I was unable to start a game properly, but I got no crashes and hangs.
Grr, seems I'm going to have to reflash my SD card. Touchscreen seems now to be broken, and it's failing to mount squashfs images now, meaning I can't run most PNDs any more. Hopefully that corruption's nothing to do with your game, but I'll be back in a bit.